I need to amend my 2020 return by removing income I mistakenly claimed (Sale of Business Property). I can only edit that section. I need to remove that income. How?

Forum|Forum|3 years ago
December 29, 2022
5 replies
45 views

TurboTax prompted my to claim the sale of my primary residence as income because I had rented the property out while stationed overseas. Under IRS Publication 523 I was exempt from claiming that as a business property as it was considered my main residence. I need to amend my return to remove that income and recalculate my taxes using the lower income, which will increase the return I should have received. I can only seem to edit that income but cannot remove it which is what is required.

TurboTax Live Self Employed

Anonymous_

Level 15

Contact Support.

What is the TurboTax phone number? (intuit.com)

Critter-3

Level 15

How to Amend

https://ttlc.intuit.com/community/amending/help/how-to-amend-change-or-correct-a-return-you-already-...

Once you have started the amendment process, since you are using the downloaded program, switch to the FORMS mode and delete the form with that sale on it (should be a form 4797) then you must still report the personal residence sale so that the depreciation recapture can happen properly.

Click on Federal Taxes (Personal using Home and Business)
Click on Wages and Income (Personal Income using Home and Business)
Click on I'll choose what I work on (if shown)
Scroll down to Less Common Income
On Sale of Home (gain or loss), click the start or update button

Or enter sale of home in the Search box located in the upper right of the program screen. Click on Jump to sale of home